By Laura Lutz
Washington, Dec. 22 - Cockatoo Ridge Wines Ltd. arranged a private placement of shares with institutional and sophisticated investors for A$12 million.
The company plans to sell the shares at A$0.14 each. The exact number of shares was not announced.
Settlement of the placement depends on shareholder approval and other conditions.
Proceeds will be used to reduce debt.
The company also plans to acquire 100% of Australian Commercial Wines Pty. Ltd.
Cockatoo is a Melbourne, Australia-based wine producer.
| Issuer: | Cockatoo Ridge Wines Ltd.
|
| Issue: | Shares
|
| Amount: | A$12 million
|
| Price: | A$0.14
|
| Warrants: | No
|
| Pricing date: | Dec. 22
|
| Stock symbol: | Australia: CKR
|
| Stock price: | A$0.205 at close Dec. 22
|
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